Followers of R.N. Elliott do count waves. This week Pretzel Logic's Market Charts and Analysis (see blogroll) published a two part Introduction on understanding Elliott Wave Theory. After reading that 101 on counting waves, a handy tool for counting waves and thus analyzing the wave structure would come in handy, right?
It happens some years ago Elliott Wave International's chief commodity analyst and "Futures Junctures Service" editor Jeffrey Kennedy" presented his Trend Analyzing Tool in a webinar. On Tuesday, 22 December 2009, EWI disclosed the formula to the public on their website.
(Screen shot of the "Jeffrey Kennedy's Trend Analyzer Tool", or ,JK_TA for short, Fast and Baseline)